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Feb 5, 2013 12:00am PST
-fourth of whom are paying nothing in taxes, to start paying their fair share of taxes. >> what most concerns you? i want to be specific in asking. what most concerns you about what the president is likely to give on? you just listed a couple of things, but what is your greatest fear about what he may compromise? >> in terms of a grand bargain, i am afraid the president will continue down the path of more cuts. we did get $700 billion over 10 years, from people earning $400,000 a year or more. that is good, but that $700 billion is not 1.6 trillion the president originally wanted, so we need more revenue for deficit reduction, and i hope the president remains strong on that. what worries me very much is the president may end up supporting something called chained cpi, which would make significant cuts starting immediately on social security, veterans' needs, and that worries me. in addition, i am worried about cuts in benefits to medicare and medicaid. politics.'s talk we will come back to policy in a second. the policy cleans the clocks in january. they have agreed to put off the debt ceiling de
Feb 6, 2013 6:30pm PST
of gasoline comes as workers have less take-home pay, because of the expiration of a payroll tax holiday. so will consumers be forced to cut back spending, hurting economic growth, and stock market performance? >> not necessarily, because rising gasoline prices is usually predicated on a weaker dollar or better economic activity. better economic activity would lead to higher earnings. >> reporter: wolfberg says crude prices would have to jump $10 a barrel, or roughly 10%, before there's a major hit to the u.s. economy. erika miller, "n.b.r.," new york. >> tom: still ahead, the federal reserve is the latest target of a cyber attack, are companies taking cyber risks seriously? >> susie: on wall street today, a choppy day of trading with investors focused on new concerns about the outlook for europe's economy, and a new batch of corporate earnings. with more than half of the companies in the s&p reporting, quarterly results have been better than expected. still, by the closing bell, stocks were virtually unchanged. the dow rose seven points, the nasdaq fell three, and the s&p added nearly a poi
Feb 2, 2013 12:30pm PST
.6% to 58.6%. >> they want their payroll tax cut. >> declined december to january. >> they want the payroll tax cut, no wonder. >> the big picture job numbers that came out try were encouraging but even business experts were looking at the big picture and seeing the economy in job growth has been sluggish and terribly sluggish for a really long time. still hovering around 8% up employment. when is this going to end? no one sees it ending soon. that is bad news overall. >>> what do you think mort? >> i think the she remains weak -- economy remains weak. as pat was saying. $25 billion a week in terms of deficit spending trying to boost up the economy. secondly, $85 billion a month, coming out of the federal reserve, the loosest monetary policy we have ever had. we can barely get the economy to grow. it was 2.4% last year, then 1.8%, if that, maybe even less this year. despite all the stimulus. so the economy is continuing slow, it is not even staying flat. >> so you are saying we are in for several quarters of low growth? >> we hope it is going to be several quarters of low growth. anything c
Feb 1, 2013 6:30pm PST
in large part on decisions made in washington in the next two months on spending and taxes. white house economic adviser alan krueger warns the automatic spending cuts known as the sequester could hurt the economy and job growth. washington bureau chief darren gersh spoke with him at the white house just after the employment report came out. darren began by asking there's a clear trend in the jobs numbers. >> today's report of 157,000 was a little bit above what the average has been for the previous 12 months, but i think if you look at the whole pattern, we see a job market that's gradually healing. over the last 35 months, our businesses have add 6.1 million jobs. that's moving in the right direction but we have a big hole to dig our way out of because the financial crisis was so deep >> darren: it doesn't look like in the job numbers that the fiscal cliff scared employers from hiring people but that didn't show up. were you surprise bide that? >> i think our economy has been resilient. investment was strong in the fourth quarter, particularly in equipment and software. we're seeing s
Feb 5, 2013 6:30pm PST
, the president urged congress to pass a mix of spending cuts and tax increases to ease the immediate hit. >> there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the entire economy, should be put in jeopardy just because folks in washington couldn't come together to eliminate a few special interest tax loopholes. >> reporter: republicans dismissed the calls for more tax increases, and many argue the threat of the automatic spending cuts known as the sequester are the only way to force democrats to accept more spending cuts. but their leverage may be limited. >> i think we will have the sequester for a short period of time, probably until the first civilian employee of the government is furloughed, which might take about a week. and then, that pain may be enough to cause the people on capitol hill and the president to come to some sort of rational deal. >> reporter: the short-term budget fight comes as the medium-term outlook for federal red ink is improving. the congressional budget office figu
Feb 7, 2013 6:30pm PST
their biggest monthly sales gains in a year in january, despite the expiration of a payroll tax holiday. 20 retailers tracked by thomson reuters reported an average sales gain of 5% in january. that's nearly twice as strong as last year. erika miller looks at whether the sales momentum can continue. >> reporter: if there's one thing helping retailers these days, it's cold weather. low temperatures in much of the nation has boosted sales of coats and warm clothing. so no surprise that department stores selling those items were big winners in january. kohls, nordstrom, and macy's all posted double digit sales increases. >> if you are trying to clear winter goods that didn't sell over the holidays, the cold snap is a big help. we had a bunch of weather events-- cold, wet, snow, ice, so things are selling out even if they've been marked down. that's really cleaning out inventory that needs to get out before the spring. >> reporter: but to be fair, there was also a quirk of the calendar that gave many big retailers a fifty-third week in their fiscal year. that meant an extra week of sales in ja
Feb 6, 2013 12:00am PST
in haiti. you pay a bribe, which is cheaper than paying taxes. you pay a bribe to one government official. is a business practice and has been for at least a century. tavis: the question is how does that lead to haiti getting stuck where it is, because it is not the only government with officials who take bribes. so we list of names? until the other day there were not one but two former governor is -- governors in illinois who were imprisoned at the same time. you have got to tell me more than just corruption that has the people in this quandary. but there is corruption, and there is racism, and if you look, martinique and guadeloupe are part of france. france sent them on, and they are the descendants of slaves. they do not have the situation in haiti has, which is an outcast. i think what frederick douglass says, which is true. after the earthquake there were incredible articles. pat robinson said patients made a pact with the devil. it was the first time he seemed to be on the side of the french, and many conservatives and moderate columnists attack patients as having brought this upon
Search Results 0 to 6 of about 7